Nevada casinos hit by massive losses as tourists no longer go to gamble

Despite Nevada's 271 casinos taking an impressive $24.6 billion in the fiscal year of 2015, much of the revenue is generated from its restaurants and impressive shows rather than through gambling.

In fact, Nevada's casino revenue is up from $21 billion in 2010 but it appears guests are becoming less inclined to use their money for actual gambling.

Casino gambling-only revenues were down 0.2 percent from last fiscal year, with $10.6 million taken in 2015.

Visitors appear to enjoy spending their cash at the luxurious restaurants and watching impressive shows by stars like Britney Spears.

"The Strip is at an all-time high in revenue. But gaming is lagging. That's why we're losing money," Mike Lawton, senior research analyst for the Gaming Control Board, told CNN.

"More people are coming to Vegas, but they're spending differently. Basically, gaming (revenue) hasn't quite caught up and non-gaming is leading," Mr Lawton said.

While gambling in Nevada may be struggling, Las Vegas is expecting a record number of visitors with an estimated 42 million people expected to make a trip to Sin City this year.

Experts have expressed optimism that with the gap in losses narrowing each year, Nevada's casino industry should be able to turn things around soon.